- Dec 10, 2020 4:08 am GMT
Starbucks becomes the first corporation to sign a PPA for energy storage. Expect many more to follow.
Today, LevelTen Energy announced its support of Starbucks’ diversified renewable energy portfolio, including two marquee projects Starbucks unveiled at its 2020 Biennial Investor Day. Included in these projects is an innovative new agreement with Terra-Gen, facilitated by LevelTen, to virtually procure 5.5 megawatts of battery storage capacity and 24 megawatts of solar energy from Terra-Gen’s Edwards Sanborn Solar and Storage project.
Starbucks is the first corporation to execute this type of financial agreement for utility-scale storage, produced in coordination with LevelTen and EnergyGPS. This new contract not only provides corporate buyers the economic benefits of storage, but also delivers developers a guaranteed revenue stream, enabling a more practical method for storage project financing.
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